Marketers have yet to lift petrol from the Nigerian National Petroleum Company (NNPC) at the Dangote Petroleum Refinery, despite its recent availability, The Independent Petroleum Marketers Association of Nigeria (IPMAN) has cited unresolved pricing as a key reason for this delay. Abubakar Maigandi, IPMAN’s national president, stated that while the refinery is capable of local production, a lack of pricing agreement hampers access to the product, leaving the fuel supply chain uncertain.
“We have not been supplied petrol from Dangote Refinery as we wait for the NNPC on pricing,” Maigandi noted.
Mohammed Lawal, a petroleum dealer, echoed these concerns, stating that after three days of lifting, the market is still dependent on old petrol stocks due to the unresolved pricing situation.
On September 16, NNPC released pricing for petrol, ranging from N950 to N1,019 per litre based on location, prompting reactions within the industry. The gantry price at the refinery was set at N736, or $0.55 per litre, with additional charges bringing the effective price to between N950 and N1,019 per litre. These charges include various fees and profit margins that contribute to overall costs.
Marketers worry these high prices may lead to increased petrol imports, undermining local refining efforts. A major marketer indicated that imported petrol vessels are expected to arrive starting September 17 due to uncertainties in product allocation from the Dangote refinery.
“As it stands, transparency in allocation remains a concern, and some major players might need to supplement their supplies with imports,” he said.
